My ex-wife and I are still named together on a mortgage. If I have been making payments alone for over 2 years, do I need her to be insured?

To save money, I have cancelled the insurance on the mortgage. I have paid for the house for over 2 years, since my ex-wife and I separated. She has been diagnosed with severe mental health problems and is also on a debt management scheme for her debts of over £10k (which she accrued after the split), while she also has no job and is living in a shelter. If I were to die, and there is no payment insurance, I think the bank would write off the debt for her, given her circumstances, while if anything happened to her, I would be in no different a financial situation than I am now. Do I really need mortgage insurance for both of us?

Asked by rukh80

13 Answers

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Answered by templeofpermanenthealing
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Anthony | 11.27.12 @ 05:58
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by john.03martin
I am not sure but I think that you will need to insure her, however you are not responsible for her but you took this loan jointly with your Ex-wife, so you need to do this formality. You must also consult with any good financial adviser.
12 month loans | 06.12.13 @ 14:34
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by kathy.03thomas
As you have told us the situation, there is no need to take mortgage insurance for both of you, but still I suggest you to take it for security purpose. If you take mortgage insurance for you as well as for your Ex-wife, it would be a bit expensive for you but it would be a safe for you.
Cash Loan | 06.19.13 @ 14:21
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by linda.03thomas
I think that you must go for mortgage insurance for both you and your Ex-wife, it could be safe side for you, and however there is no need to do it. I think that you must go for safe side, and consult with any good financial adviser.
minicredit
| 07.01.13 @ 14:17
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by denny.03watson
If your wife and you named together on a particular mortgage loan then you must be alert and be in safe side, and you should make her insured. In that you can also consult with any good lawyer or any financial consultant, because every country has it's own rules and terms, so a local lawyer or financial consultant can suggest you better.
kwik quid
| 07.03.13 @ 12:35
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by kobemcklain
Firstly you have to look that what you feel for her right know at the current status because there are several options but totally sticks on your decision. If you feel that there are so many consequences being faced by your ex-wife, I would surely suggest you to have that mortgage insurance for both of you. Listen to your heart that’s going to help you to take the right decision or either consults an expert.
Quick Cash | 07.05.13 @ 09:58
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by kevin.03watson
The situation is a bit complicated; if your ex-wife and you are having together a particular mortgage loan then you should be cautious and think about safe side. I think that you should make her insured, so that you won’t be facing any liability of your ex-wife in future.
money advice | 07.08.13 @ 14:33
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by allen.065peter
In that case I would like to suggest you that you should get your ex-wife insured, if your ex-wife and you are having together a particular mortgage loan then you should be cautious and think about safe side.
payday uk | 07.10.13 @ 13:14
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by alea.03robert
I think that you should talk to your mortgage lender first about the situation and if still they ask for insurance of your ex-wife, then you should not avoid it and should make her insured immediately.
minicredit
| 07.13.13 @ 05:45
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by krista.33watson
This is a bit complicated case is that your ex-wife and you are still named together on a mortgage. You should consult with your mortgage lender so that you can transfer it on your name only if possible, otherwise you will be be liable for your ex-wife.
Cash Loans | 07.18.13 @ 04:49
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by almond.03thomas
If you and your ex-wife are named together on a mortgage home loan, then you should talk to your mortgage lender first about having insurance. You mortgage lender and insurance company can tell you better about the situation.
moneyshop | 07.19.13 @ 06:02
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by robin.03thomas
I think that you should take a professional and wise decision in that case, because you are already divorced, so you should think about each and everything. If you’re financial expert is suggesting you to take this insurance for your ex-wife also then you should go for that.
payday loans australia
| 07.20.13 @ 05:41
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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Answered by kobemcklain
The laws have been revised for people being divorced and there are more of clauses being added which are quite favorable for divorced women’s. So better to consult an attorney for the situation of both named together on a mortgage.
Fast Cash Loans | 07.26.13 @ 10:13
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$commenter.renderDisplayableName() — {comment} | 09.24.17 @ 03:12
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